A Strong Economy with 5.0% Growth in 2024

The Dominican Republic continues to solidify its place as one of the fastest-growing economies in Latin America. According to the Central Bank of the Dominican Republic (BCRD), the country’s Gross Domestic Product (GDP) grew by 5.0% in 2024, maintaining economic stability and financial resilience.

Stable Inflation & Favorable Economic Conditions

This growth was achieved in a stable pricing environment, with annual inflation staying within the Central Bank’s target range of 4.0% ± 1.0%, closing the year at 3.35%—the lowest Consumer Price Index (CPI) variation in the last six years.

Core inflation, which excludes volatile goods and services, remained at 4.01%, aligning with the Central Bank’s monetary policy goals.

Key Sectors Driving Growth

The service sector played a significant role in the country’s economic expansion, growing by 5.5% in 2024. Notable contributors include:
✔ Hospitality, bars, and restaurants: +9.6%
✔ Financial services: +8.3%
✔ Energy & water: +7.0%
✔ Transportation & storage: +5.7%
✔ Retail & commerce: +5.5%

Tourism: A Major Economic Driver

Tourism continues to be a pillar of the Dominican economy. In 2024, the hospitality sector grew by 9.6%, thanks to a record-breaking 11.2 million non-resident visitors:
✈ 8.5 million tourists arrived by air
🚢 2.6 million cruise passengers visited Dominican ports

Foreign Investment & Remittances at Record Levels

The Dominican Republic remains an attractive destination for international investors. In 2024:
💰 Foreign Direct Investment (FDI) totaled $4.51 billion, surpassing $4 billion for the third consecutive year.
📩 Remittances reached $10.76 billion, a 5.9% year-on-year increase.
💵 Foreign currency inflows were estimated at $43.5 billion for the year.

Why This Matters for Real Estate Investors

The Dominican Republic’s economic strength, booming tourism, and increasing foreign investment create ideal conditions for real estate growth. With a stable financial environment, high rental demand, and tax incentives for investors, now is the perfect time to explore opportunities in this thriving Caribbean market.

📩 Contact us today to learn more about the best real estate investment opportunities in the Dominican Republic! Take a look to our listings

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